Life & Critical Illness Insurance
A lot of my clients have been asking about life cover and critical illness. Anyone who has financial dependents should consider buying Life Insurance to protect their loved ones. You can still apply and coverage can start immediately.
As a landlord, if you own property in your own name then it won’t go to your next of kin. The lender will give them a period of time to sell the property and repay the loan. Your family will lose the income from the property and they may have to sell below its true value if the housing market is slow.
Insurers are asking additional questions. These include if you have any current symptoms, had a test for the virus, what the results were and if you have had contact with somebody who has the virus or has been tested positive. If any of these apply to you then the application may be put on hold.
If you need any medical reports or information from your GP this is taking much longer to be received.
If you are thinking about critical illness cover you need to ask if you could manage your portfolio if you were not able to work or cope with dealing with letting agents, tradesmen and lenders.
By having a policy this gives you the comfort to concentrate on the illness and not to worry about any financial issues.
If you need a review of your life cover then contact us.